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ARTICLES OF CO-PARTNERSHIP
Transcript of ARTICLES OF CO-PARTNERSHIP
NATURE AND PLACE OF BUSINESS:
OUR BUSINESS IS LOCATED ANYWHERE INSIDE OR OUTSIDE THE CAMPUS.
NAMES OF PARTNERS:
GENERAL PARTNERS :
Jasmin P. Villafuerte
Quirs Aldrin Figues
Ma. Lanie Mae Rolde
Villa Marie Villacarlos
EFFECTIVITY DATE and DURATION OF THE PARTNERSHIP:
• AUGUST 15, 2013 – UNTIL ITS CLOSING.
NAME OF PARTNERSHIP:
• AUGUST 15, 2013 – SEPTEMBER 28, 2013
ACCOUNTING PERIOD TO BE ADOPTED:
PROFIT AND LOSS SHARING:
• IT WILL BE DIVIDED EQUALLY AMONG PARTNERS.
RIGHTS, POWERS AND DUTIES OF THE PARTNERS:
• Everyone is entitled to have an equal share of the partner’s profit.
• The duty of loyalty.
• Not to divert partnership’s fund into your own account.
• Gain consent from the partners before acting on behalf of the partnership.
We had agreed that each of us has to sell the munchkins and there would be one who will keep the money in other words, he will be the accountant. and at the end of the day, all of us must meet in order to submit and to talk about how our business does.
TREATMENTS OF PARTNERS ADDITIONAL INVESTMENT AND WITHDRAWALS:
For those partner who contribute additional investment, he will have more part of the profit (According to the law, the profit is divided based on capital contribution.)
In withdrawals, if he will withdraw, he will be automatically be terminated .